Zivame is an online lingerie store featuring hundreds of styles for the Indian woman. Zivame was officially launched in August 2011 by Richa Kar and Kapil Karekar. Zivame offers a wide range of products for women in three different categories including lingerie, activewear, and Apparels through its online and offline platforms.
Zivame was founded by Richa Kar and Kapil Karekar in 2011.
Richa was born in Jamshedpur and hails from a very conventional family background.She completed her education from the reputed college of BITS Pilani after which she worked for an IT company. In 2011 she started Zivame with Kapil. Today Richa is known to be one of the most influential female entrepreneurs.
Kapil is the co-founder of Zivame with Richa. He completed his graduation in computer science from Dr Babasaheb Ambedkar Technological University and had worked with companies like InMobi, ESPN and Yahoo! for over 10 years. Kapil met Richa through a common friend, and that was when Richa was thinking about the concept of online retailing of lingerie.
The Idea of Zivame:
The idea of Zivame came out while Richa was conducting a research on lingerie market in India. She realized that lingerie shopping in India was more a bottleneck for women than and experience. That is when she decided to start a platform for lingerie shopping for women. The website sells panties and lingerie of all sort and types like the backless bra and bikini collections. Other than various panty set, the site also has a collection of pyjamas, boxers, housecoats, etc.
Richa started Zivame with 35 lakh Rupees from my savings and contributions from friends and family. After that in the First round of funding the company raised 3 million Dollars from investors like IDG Ventures India and Kalaari Capital.
In the Second round of funding held in December 2015 company raised around 6 million dollars from Ronnie Screwvala, Unilazer Ventures, IDG Ventures India, Kalaari Capital. Then in September 2016 company raised its biggest funding of 40 million dollars from Khazanah Nasional, Zodius Capital, Unilazer Ventures, IDG Ventures, Kalaari Capital.
Zivame Business Model:
Earlier Zivame was operating on the usual online marketplace model with the commission of 15-20 percent per transaction. But last year the company pivoted from an online marketplace to an online brand in which 50 to 60 percent margins coming from retailing private labels.
Zivame has also announced the plan for its offline stores. The company is planning to add 100 offline store and fitting centres across the country over the next two years.
As per the filings with the Registrar of Companies. The company reported 84 increase in net losses at Rs 54 crore for the financial year 2016 and 38% growth in its net sales at Rs 62.6 crore. The inventory costs of the company grew by 35% at Rs 47.8 crore and spends on advertising and marketing more than doubled to Rs 46.7 crore during the period.